Credit card default

Usually Bank approach Lok Adalat......

If you have borrowed you may pay.

Hi,

They have opted for lega recourse.

The suit (court case) will go as per procedure. In case you dispute your outstanding, it would not be a bad idea to settle it throught court.

In case you settle, make sure that they do not spoil you CIBIL records.

Regards

Chetan 

They have spoiled my cibil record by updating civil suit filed(wilful default).

For wilful default.Will they file criminal case?If they,what will be consequence?

Last payment was made 2years back.is there any limitation?

It is a civil suit for recovery.

The limitaion is 3 years.

Sorry it is updated in cibil as suit filed(wilful default).

For wilful defaults.banks can file criminal case?

3years limitation is on last payment made or for filling the suit?

If suit is filed after 2years and case is going another 1year.still they can recover the money?

Sorry it is updated in cibil as suit filed(wilful default). For wilful defaults.banks can file criminal case? 3years limitation is on last payment made or for filling the suit? If suit is filed after 2years and case is going another 1year.still they can recover the money?